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Stocks to watch
Housebuilder Berkeley posted a 5% fall in annual earnings but said it was confident about the future against a backdrop of falling interest rates and government plans to ramp up supply using brownfield sites. Full-year pre-tax profit came in at £529m, while new house sales rose to 4,047 from 3,521 in 2024.
Japanese regulators have accepted GSK’s application to expand the use of its RSV vaccine, Arexvy, to the entire adult population. Arexvy is now being considered for those aged 18 to 49 who are at increased risk of severe RSV disease, following positive Phase IIIb data showing immune response and safety in this population. The drug is already approved for those aged 60 and older for the prevention of RSV disease, and for those 50 and older at increased risk for severe RSV disease.
Newspaper round-up
Thousands of European airline staff are being trained to stop people boarding flights to Britain without valid visas, in a move billed by the foreign secretary as a digital upgrade to border controls. David Lammy said the measures marked a step towards “more secure, more digital and more effective” borders, but the move could raise questions about human rights safeguards. – Guardian
UK manufacturing is expected to receive support to ease energy costs and boost skills, the Guardian understands, as part of a long-awaited industrial strategy due to be unveiled next week. Energy-intensive industries have long complained that they pay too much for electricity compared with competitors in the EU, while the wider industrial sector has struggled to recruit skilled staff. – Guardian
Ministers have been urged to increase the £95 passport renewal fee in a blow for millions of Britons. The National Audit Office (NAO) said the Passport Office should increase its fees to address a growing black hole in the department’s annual budget. The Passport Office had a budget shortfall of £223m last year and a total deficit of £916m over the last five years. The gap is currently covered through taxpayer funds but the NAO said fees should instead be increased to fill the black hole. – Telegraph
The government has given the strongest indication yet that it is preparing to put Thames Water into administration. Answering questions in the Commons, Steve Reed the environment secretary, was asked to comment on backbench unease that a consortium plotting a takeover of Thames Water is lobbying Ofwat, the regulator, to ease up on the fines and penalties it is levying against the company for past misdemeanours and ongoing poor performance. – The Times
The boss of Aviva has warned the government that it is for savers to decide where they invest their pensions amid mounting concern in the retirement industry that ministers will force funds to buy UK assets. Dame Amanda Blanc told The Times CEO Summit that companies such as Aviva that provide defined contribution workplace plans were making investments based on “choices made by the members of those schemes”. – The Times
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